Oil expiration today on February and the spread came in from -6.50 to -2.00 last few sessions. Oil is now above $40 again with March taking the lead tomorrow. Natural gas still searching for a bottom; keep on radar. Gold and silver appear to be moving higher so get some long exposure. These metals have [...]
7.2% Unemployment and -524,000 jobs in December. 2.6M losses in 08′. Silver looks like it wants to go down and we would not be shocked to see $1-1.50 onslaught next week. Cautiously holding longs in March and December $15/20 currently. February gold should break down from the recent traingle next few sessions. We will be [...]
Natural gas and crude were higher on the day. We are currently pricing out bullish strategies for March . Still holding the February $8 at a loss looking to trade out for clients. Although we still expect a pullback in gold and silver we are recommending light long exposure in silver. For option traders we [...]
We were recommending clients to buy February $7 calls in natural gas today for $600; still loking for a .75-1.25 move higher in the very near future. Additonally we are recommeding NOB spreads short 30-yr bonds and long 10-yr notes in March looking for bonds to lose more than notes. As an out right directional [...]
RBA cut 1.0% to 4.25%, RBNZ cut 1.50% to 5.0%, ECB and BOE expected to cut bright and early tom morning. The March Japanese yen hit our target of 1.08, see Monday’s commentary. We suggested for clients to buy February n.gas $8 calls for $2000 today, target $3500. Use the pullback in sugar # 11 [...]
The US dollar index is down for the third day in a row losing almost 5.0% in as much time. Commodities continue to base out and we are buyers for clients for a handful of commodities with stops below last week’s lows. Today we bought january soybeans, January fcoj. We continue to like sb, si, [...]
Oil may be bottoming, OPEC meeting this coming weekend. Gold and silver have started to move higher as the Us dollar is exhibiting signs of a top. If we do get a bounce in equities it should set up a lower enrtry to get long the yen. Corn and soybeans are probably a buy but [...]
Stocks down japanese yen up. Will we forge to new lows in the indicies? 1.0620 key Fibonacci # for December yen. The flight to quality is on in treasuries as 10-yr and 30-yr make new highs. We are continuing to build postions in siz9 and sbk9 for clients. Contact us for specific details.
We will continue to advise clients to acquire silver futures and options into 09′. We are comfortable owning May 09′ sugar #11. The carry trade unwind should continue so we continue to have a bullish bias in the yen. Make sure you have a time-frame because December 08′ options expire in just over 2 weeks. [...]
